Life Insurance Corporation of India
LIC's New Tech Term
UIN 512N351V02We don't sell this — we'll still recommend if it fits
The dealbreaker fields (term life)
Sum assured (max)
—
Claim settlement (CSR)
98.4%
Claims TAT
[object Object] days
Suicide exclusion
12 months
Payout options
Option I: Level Sum Assured · Option II: Increasing Sum Assured
Premium payment
Single · Regular · Limited
Policy term
5–40 yrs
Surrender value
no
Free look
30 days
What this plan does well
- ONLINE-ONLY (Tech Term) — lower distribution cost reflected in premium
- GOVERNMENT-OWNED INSURER — sovereign-grade trust
- PURE RISK Term Plan — no investment / no maturity benefit
- Two Death Benefit Options — Level SA or Increasing SA (2x by year 15)
- Death Benefit Instalment Option — 5/10/15 yrs
- Suicide Exclusion 12 months only (industry standard)
- Free Look 30 days
- Grace 30 days
Watch out for
- No maturity benefit (pure-risk)
- No surrender value on Regular Premium
- No bonus/loyalty additions (non-participating)
- No critical illness benefit in base (verify if rider available)
- Online-only — no agent-led servicing in person
- Single Premium variant: only 125% of premium payable on death (vs Absolute Amount) — low coverage multiplier
- Suicide exclusion 80% premium refund only (lower than some private term plans)
Is this the right plan for you?
Run the 30-second cover calculator. We'll tell you whether this plan, or a different one, is the better fit.
Find my right cover →We don't directly sell this plan today. If our verdict says this is your best fit, we'll point you to a broker who does — and tell you our paired listed alternative so you can decide.